Banca Transilvania, the biggest bank held by domestic private investors, made 84.39 million RON (23.7 million euros) profit in the first nine months. Income in the first three quarters is 15% higher in RON than in the same time last year. Gross profit three quarters into the year stood at 92.99 million RON (26.3 million euros), up 15% again in RON compared with September last year.
"We had a 10% increase in gross profit and a 13% increase in net profit in the first six months. Now we have annual growth of 15% for both gross and net profit. One can see it picked up speed," Robert Rekkers, BT chief executive told ZIARUL FINANCIAR. He avoided providing a full-year profit target, though.
"It was a year of volatility and I don't know what is going to happen if the NBR raises the interest rate. I hope we will maintain the growth we posted after the first nine months," Rekkers said. The assets of the bank have gone up by 38% since the beginning of the year, reaching 6.8 billion RON. Converted into euros, the assets of the bank rose by 44% to 1.93 billion euros.
The difference in pace is a result of the RON appreciating against the euro during this period.
The expansion of assets was driven by growth in the volume of loans, which increased by 48.7% since the beginning of the year, to 4.4 billion RON (1.24 billion euros). Rekkers says he "saw an extremely fast-paced development" on the retail and small and medium-sized enterprise segments, while growth on the corporate segment was more moderate.
The amounts attracted from clients were somewhat slower to progress, reaching 4.75 billion RON at the end of September, 36.5% more than at the beginning of the year.
Just like last year, the bank has successfully combined fast-paced business development with profit growth again.
Still, the profit growth by September this year compared with Sep
